National Affairs: Warder to Sing Sing

Sequel to the scandalous failure of City Trust Co. for $5,000,000 in Manhattan in 1929, a shifty-eyed little man of 62 last week entered Sing-Sing Prison to start a five-to-ten year sentence (TIME, Feb. 25, 1929). He was Frank H. Warder. As New York State Superintendent of Banks, he had taken a $10,000 bribe to delay an examination of the bank which would have-disclosed its fiscal rottenness. A Court of Appeals ruling that the evidence of his guilt was “overwhelming” ended his 14 months of legal dodging.